Which rider allows the insurer to relieve a minor insured from premium payments if the minor's parents have died or become disabled?

The Payor Benefit rider is designed specifically to address situations where the parent or guardian responsible for premium payments is unable to do so due to death or disability. This rider ensures that the insurance coverage remains in force without additional financial burden on the minor who is insured. In this scenario, the insurance company will waive the premiums that would otherwise be due, allowing the minor to maintain their life insurance coverage uninterrupted during a challenging time.

Understanding how this rider works is crucial in recognizing its importance for minors, as it provides peace of mind that the policy will remain valid even if the family experiences significant hardships. Other options, such as the Waiver of Premium, also relate to premium payment relief but apply more generally to the insured individual rather than specifically addressing the situation involving a minor insured due to their parent's circumstances. The Guaranteed Insurability provision and the Family Term Rider serve different purposes entirely, not focused on premium payment waivers under the specified conditions. Thus, the Payor Benefit rider remains the most appropriate choice for ensuring that a minor's coverage is maintained despite the financial impact of their guardian's death or disability.